Avanos Medical (NYSE:AVNS) Hits New 52-Week Low at $31.42

Avanos Medical Inc (NYSE:AVNS) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $31.42 and last traded at $31.42, with a volume of 2431 shares. The stock had previously closed at $31.89.

A number of brokerages have issued reports on AVNS. JMP Securities reaffirmed a “hold” rating on shares of Avanos Medical in a research note on Wednesday, August 21st. Zacks Investment Research raised Avanos Medical from a “sell” rating to a “hold” rating and set a $46.00 target price for the company in a research note on Wednesday, October 30th. Stifel Nicolaus downgraded Avanos Medical from a “buy” rating to a “hold” rating and cut their target price for the stock from $45.00 to $35.00 in a research note on Wednesday, November 6th. Raymond James downgraded Avanos Medical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, ValuEngine downgraded Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $44.80.

The business has a 50-day moving average of $39.03 and a 200-day moving average of $39.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.51. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 38.90 and a beta of 1.56.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $171.40 million for the quarter, compared to analyst estimates of $179.98 million. Avanos Medical had a positive return on equity of 3.92% and a negative net margin of 6.20%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. Equities analysts predict that Avanos Medical Inc will post 1.05 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of AVNS. Financial Gravity Wealth Inc. grew its position in Avanos Medical by 2,303.4% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 697 shares of the company’s stock valued at $30,000 after acquiring an additional 668 shares in the last quarter. Trustcore Financial Services LLC acquired a new position in Avanos Medical in the 2nd quarter valued at about $46,000. Signaturefd LLC grew its position in Avanos Medical by 40.5% in the 3rd quarter. Signaturefd LLC now owns 1,082 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Advisory Services Network LLC grew its position in Avanos Medical by 39.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,203 shares of the company’s stock valued at $53,000 after acquiring an additional 342 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Avanos Medical in the 2nd quarter valued at about $64,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical (NYSE:AVNS)

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

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